A Bubble That Broke the World

The names of the players are different but these cautionary essays about massive national debt-written in the long wake of World War I and as the Great Depression was starting to make its horrible power fully known-are still fully applicable today. A powerful libertarian voice of the early 20th century Garet Garrett writing originally in the Saturday Evening Post warned about the extension of American credit to a Europe staggering under a massive debt leftover from the financing of World War I... a situation echoed if reversed today as the overextended United States continues her rampant borrowing. Collected in book form Garretts writings are a cry for a retreat from financial insanity a clear-eyed look at a complicated and little understood era of financial history and perhaps an ominous warning for today. American journalist GARET GARRETT (1878-1954) also wrote The American Omen (1928) Rise of Empire (1941) and Garet Garretts: The Peoples Pottage (later retitled Ex America) (1951).